NYTIMES/ J.EWING/ There is agreement that the just released EU bank stress tests did NOT provide all the information investors wanted about the condition of the region’s banks...but perhaps just enough to satisfy them about creditworthiness. The tests were “extremely imperfect,” claimed Nicolas Véron, of the deficit hawkish Peterson Institute. But he added: “The importance of what is being achieved cannot be denied.” Still some banks did not publish their holdings in government debt. “What the authorities have done is contrived a series of vignettes in which most of the banks can avoid failure,”says economist Carl Weinberg. “As a result, we expect uncertainty about banks’ financial strength to continue to plague both the banking system and the financial markets.” (Wiki foto of stress test)
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